Is Nexo a great platform to earn a passive income on?

Asked 2 years ago

I was in a forum discussion and was told to use Nexo to earn a passive income. What is the consensus on this? Are there better platforms that are paying more in stablecoins?

Lyric Carson

Wednesday, February 02, 2022

Nexo has been around since the early days of crypto. I think it is right to call Nexo a legit and reputable platform to invest your money. They are a bit like a centralized tech institution, but their APY is reasonable when compared with other saving applications and financial service providers in DeFi. Of course, you can earn passive income by putting your funds in Nexo, but considering the APY, there may be better options for you. You can check out the stable coin pools on DeFi platforms here. There are stable coin pools on other reliable platforms that pay better than traditional APY which is usually 17-20%.

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